Good morning and welcome to today’s Bulls and Bears. If you have any questions, please feel free to share. You can also send an email to info@greentickertales.com or use the anon link.
Kicking off with the NGX
The NGX All-Share Index appreciated by 2.35% to close the week at 118,138.22 and N 74.534 trillion respectively.
Trading in the top three equities namely Zenith Bank Plc, Champion Brew. Plc and Access Holdings Plc (measured by volume) accounted for 1.003 billion shares worth N26,076 billion in 14,232 deals, contributing 28.14% and 22.60% to the total equity turnover volume and value respectively.
Ellah Lakes was the best performing stock last week. The stock appreciated by 23.09% opening at N4.33 and closing at N5.33, up N1.
Northern Nigeria Flour Mills led the losers. The stock declined by 17.19% opening at N112.55 and closing at N93.20, down N19.35.
Airtel Africa and Beta Glass were marked down during the week. Airtel Africa was marked down N61.75 and the ex dividend price was N2310.53.
Beta Glass was marked down by N2.95 and the ex dividend price was N228.15
Presco, Okomu, Stanbic IBTC, GTCO and MTN Nigeria ended the week at all time highs
Presco hit the N1,000 mark for the first time and closed above that.
Okomu saw strong momentum, perhaps in response to this.
Stanbic IBTC and GTCO crossed the N80 mark,
MTN Nigeria crossed the N355 mark
Response to CBN Circular
FCMB, Fidelity, Zenith, FirstHoldco and Access Bank issued press releases following a CBN circular on the end of forbearance. Summary of the last 3. We are on the matter and we will pay dividends.
Earnings
Fortis Global filed its audited FY 2020 results.
ASO savings filed its Q1 and Q2 2024 results
Conoil FY 2024 and Q1 2025 results
For FY 2024 the company made N323 billion in revenue and N8.7 billion in profit after tax. It has proposed a N3.50 dividend. Same as the prior year
For Q1 2025, the company made N79.2 billion in revenue and N292 million in profit after tax. There was a steep decline in profit year on year due to higher finance costs.
Sterling Holdco FY 2024 and Q1 2025 results
FY 2024 gross earnings was N337 billion. Profit after tax was N43.6 billion. Earnings per share was N1.51. It has proposed an 18 kobo dividend.
In Q1 2025, the company made N95.2 billion in gross earnings, and N17.2 billion in profit after tax. Earnings per share was N0.38
Thomas Wyatt back to trading
Following the filing of its Audited Financial Statements for the year ended 31 March 2024 (2024 AFS) and other outstanding Unaudited Financial Statements for 2024, the suspension placed on trading on the shares of Thomas Wyatt Nigeria Plc was lifted on Wednesday, 18 June 2025.
In the pipeline
Chams Holding Company Plc through its Stockbrokers, Tiddo Securities Limited, Cowry Securities Limited, APT Securities and Fund Limited, Lambeth Capital Limited, and CSL Stockbroker Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of 2,348,030,000 shares at N1.70 per share on the basis of 1 share for every two 2 shares held as at the close of business on Monday, 16 June 2025.
The Qualification Date for the Rights Issue is 16 June 2025.
6,659,927,623 Sterling Financial Holdings Company shares were on Tuesday, 17 June 2025, listed on the Daily Official List of Nigerian Exchange Limited (NGX).
The additional shares arose from the company’s Rights Issue of 7,197,604,531 shares at N4.00 per share in the ratio of 1 new share for every 4 shares held as at close of business on Tuesday, 06 August 2024.
Following the listing the total issued and fully paid-up shares of the company has now increased from 45,457,084,791 to 52,117,012,414 shares.
Board and management changes
Abimbola Oguntade has been appointed Chairman of Soverign Trust Insurance board of directors effective 13th June 2025
UPDC’s board has appointed of Francis Akinyemi Falola as the Chief Financial Officer (CFO) of the Company with effect from 16th June 2025 following the resignation of its erstwhile CFO, Grant Akata.
The Board of Directors of MRS Oil Nigeria Plc (the Company) dated June 13, 2025, the Board of Directors reviewed and approved the resignation of Ms. Amina Maina, as a Non-Executive Director of the Company effective 11 July 2025.
Ms. Maina until her resignation from the Board of MRS Oil Nigeria Plc, was the Group Chief Operating Officer of MRS Holdings Limited and Executive Director of MRS Oil & Gas Company Limited.
CAP’s Board of Directors has appointed Mr. Oladele Ajayi as a Non-Executive Director of the Company effective June 12, 2025.
. Ajayi was a former Managing Director/Chief Executive Officer at UAC Foods Limited.
Insider dealing notices
Vitafoam, Aradel, Haldane McCall, Zenith Bank, MTN Nigeria, Caverton, McNichols and United Capital filed insider dealing notices
What’s happening this week?
PZ Cussons has a board meeting to consider its unaudited FY 24/25 results.
Julius Berger has a call.
Fortis Global (FKA Standard Alliance) could release a backlog of overdue financials).
Moving to the US
Last week,
the S&P 500 slipped -0.2%.
The tech-heavy Nasdaq Composite gained 0.2%.
The blue-chip Dow (DJI) ended flat.
The Fed (US central bank) left interest rates unchanged as expected.
Fred Smith, founder of FedEx passed on June 21 at the age of 80.
Smith founded what was then known as Federal Express in 1971, served as CEO until June 2022, and continued as Executive Chairman till his passing.
All eyes on Iran this week
This week, crude oil remains in focus following the US bombing nuclear facilities in Iran on Saturday. There are concerns, Iran could block the Strait of Hormuz which is a major export route.
Oil futures spiked before pulling back.
Earnings wise, its a fairly light week
Carnival drops earnings on Tuesday before market open while Fedex drops earnings on after market close.
General Mills has its earnings on Wednesday after the market open. Micron drops its earnings after the market close.
On Thursday, Nike drops its earnings after market hours.
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Have a good trading week ahead.
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